Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1887-09-28


full fellow who writes home. The other
ones have nothing st all to say. We never
hear from them.
San Diego is now, and hiss been ever
since arrived, crowded with men out Of
employment, out of money and having q
desperate hard time Of 1t to get the nee
essaries OF life. have talked with s
good many of them. They came here eX-
pectirg to find money plenty in SO much
excitement ard prosperity, and living
easy to make. They have been woeiully
disappointed. There is no great amount
of work here, no extensive improvements
being made and the only people who have
really profted by the boom, outside of
real estate spectators, arc the hotel
people and those who have rooms to rent.
Almost ali OF the manual labor OF the
country is done By Chinsmen and they
cur wages down 20 starvation minimum.
So much for thst phase OF it.
AS Tor the opportunity for sDeCulatiOH
Il is in my humble opinion 10 better than
specializing il waeat-not in fact SIS good.
Property is sold a. from three to four
times whet it would bring by z rational
standard # values, taking al the p
sibilities OF San Diego OF their very basJ
But tie fact is, that there IS no p-etcn5a
with most CT the spectators that this
state Of things viii be permanent. Very
fer buy land with any intention OF living
OF building GA il, but merely 30 pzss into
The rex hands IL = profitable MARCIA.
To this end, Gil the tricks
and devices Of the resi- estate
trade ale called into reQui-
si.ion. Everything possible is done 40
stimulate the activity Of the market. A
short time ago il was t=lezrap5ed a3r3SG
that tho real estate transfers OF the day
amounted 10 something like $G00,0G0
Those on the inside know that over .
third Of this amount was represented hy
bogus deeds, Just o. bogus sales are
made to pu!l railroad stock. TIE Ct1er
two thirds were Largely option trades, IN
which Only the margins were exchanged.
T. sum tha thing up, the business Of TIE
day which was herslded a. phenomenal,
could be boiled down TO tive figures, &nd
none of them very Dig cues either.
AGOut ell the Transactions here are q
the option vsriety and some fingers have
Oaen pretty badly burned albeit favorable
reports are sent out every day. The
boom is in the hands Ct taa expert opera
tors and it fits from addition TO add ion
like wjli-o'-the-wisp. Many people
have secured options with the greatest
difficulty il certain sections only tC find
in g couple OF d8VS or so the excitement
WAS elsewhere, and the property dropped
to zer0 OF their hands.
Those who have not bought OPP
tons have purchased property at
very long time paying little
down and giving notes and mortgages
When The bottom drops out OF things, as
any one who has studied the situation is
satisfied it must before long, these people
will 20 to the wall with g crash that will
De heard slI over the country.
I do not pretend 10 say that nobody has
made money, for great many of every
cisss OF spectators have, but l challenge
contradiction 70 the assertion that not
over one investor in thirty has. That is
the average given by those who nave
carefully looked over the field
and been here since the start. a
very noticeable fact in connection
Is that very few CGlifornians
are taking stock in the boom. The people
one sees investing are from the east, and
| happen to know Of two wealthy and
prominent gentlemen of this very city
who found g little surplus cash On their
hands this summer and went TO the at
lsntiC states to invest it in lots. They
were men who had lived in Ssn Diego
for years and knew all about its present
and its chances.
fad on reading over this letter that |
have considerably prolonged it, but be
lieve IN general way covered the
ground If il will act as a slight UnrninO
TO others as deluded as myself l will feel
that have not altogether wasted my
time here. C.. 3. KIMBALL.